Hot Stock: This gems & jewellery company acquires assets of Ideal World- a major teleshopping brand in UK; scrip jumps 5 per cent!

The stock is up by 45 per cent in just 3 months and over 60 per cent in 6 months.

Shop TJC Ltd (UK), a wholly owned subsidiary of Vaibhav Global Limited, today announced that it has successfully executed an Asset Sale Agreement to acquire assets of Ideal World Ltd.

Ideal World, through its proprietary TV shopping channel, is into teleshopping and digital retail of lifestyle products. Having a legacy of over 20 years, Ideal World is one of the major teleshopping brands in the UK.

Through this agreement, Shop TJC will acquire the Ideal World’s IP rights, broadcasting rights, studio equipment along other intangible assets. The transaction will be funded through internal accruals.

Mr Sunil Agrawal, Managing Director of Vaibhav Global Limited, said, “We welcome Ideal World to VGL group. Over the years Ideal World has created a unique position for itself in the teleshopping industry. We expect this transaction to create synergies and help us continue market-leading growth.”

Vaibhav Global Limited (VGL), through its distinctive business model, has created a niche for itself in the global retail space, especially in the jewellery, accessories and lifestyle product segments of two of the largest economies of the world - the US and UK. The company has a market cap of over Rs 7,000 crore and has been maintaining a healthy dividend payout of 55.2 per cent.

On Friday, shares of Vaibhav Global Limited gained 5.74 per cent to an intraday high of Rs 446.90 per share from its previous closing of Rs 422.65 per share.

The stock is up by 45 per cent in just 3 months and over 60 per cent in 6 months. Investors should keep an eye on this Mid-Cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.